Marine Insurance is a type of insurance that provides coverage against the losses or damages of cargo or goods during transportation between the points of origin to the final destination. Marine insurance policy provides coverage for all means of transportation example road, railway, air, sea, couriers and postal service.
Marine Cargo insurance primarily covers loss during transit caused due to fire, explosion, hijacks, accidents, collisions, and overturning. We offer specially curated plans for covering the risk of theft, malicious damage, shortage, and non-delivery of goods, damages during loading and unloading, and mishandling of goods/cargo. The insured can choose the coverage based on specific business requirements. The policy is available for a variety of cargo/goods if you are dealing in or manufacturing them.
Marine Open Declaration Policy enables you to insure all your goods in transit or shipment during the year under a single policy. This policy is of a huge advantage for logistic companies, for multiple transits during the year and a single insurance policy can cover loss or damage of the cargo for multiple transit.
Marine Open Declaration policy are of three types, covering movement of goods from one place to another.
For businesses involved in numerous shipments throughout the year, managing insurance for each individual shipment can be a time-consuming process. That's where Marine Open Declaration policies come in, offering a streamlined solution. Instead of insuring each shipment separately, you can opt for a single open policy that covers all your goods in transit, subject to periodic declarations.
This approach is especially advantageous for businesses which deal with multiple shipments regularly. By consolidating coverage into a single policy with periodic updates, you save time and effort, allowing you to focus on what matters most – your business operations.
This is just an indicative list, kindly refer policy wordings for detailed information.
| Covers | Import / Export | Inland | ||
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| ICC A | ICC B | ITC A | ITC B | |
| Fire or Explosion |  |
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| Overturning or derailment of vehicle | |
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| Discharge of cargo at port of distress | |
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| Collision between 2 Vehicles | |
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| Jettison | |
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| Washing overboard | |
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| Earthquake, Lightening or Volcanic Eruption during transit | |
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| River or lake water entering cargo | |
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| Damage/Loss to goods during loading & unloading | |
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| Damage/Loss to goods during handling of goods in transit | |
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| Theft or malicious damage | |
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| Hijack of goods | |
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| Any other risk not specifically excluded | |
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